shpitz is a yiidish word. it means the point, as in the point of a nail. shpitzy means pointy; in yiddish its shpitzig. it is used in the vernacular to mean the pinnacle of something. so shpitz yeshivish means the pinnacle of yeshivish. but its not reall the teich. i heard a RY make a machaah on "shpitzig' shich", the ones commonly worn by yeshiva bochurim.

I guess that's why I couldn't find it in the Hebrew-English dictionary I was using.. It's made its way into modern Hebrew so seamlessly that I honestly thought it had Hebrew roots. It's surely listed in newer Hebrew dictionaries.